The Uzbek Republican Commodity Exchange (UZEX) has launched exports of cotton lint for the first time since 2010.
The products are put up for sale in the foreign exchange marketplace by O’zpakhtasanoat and its regional branches. 21 standard contracts with 1 ton and 50 tons lots are currently opened for exporting various varieties of cotton lint of 2016 yield through exchange trading.
EXW and FCA are terms of delivery through the territorial terminals of O’zpakhtasanoat. Stock prices for first grade cotton lint (type A) are $440 per ton, and $355.4 for second grade cotton lint (Type B).
Over three weeks since the opening of trading, Uzbekistan has exported more than three million tons of cotton lint for more than $1.2 million. Territorial branches Bukhoropakhtasanoat and Khorazmpakhtasanoat were the sellers.
Cotton lint is short cotton fibers that remain on a cotton seed after separation of normal fibers. In fact, it is a waste product of the cotton industry and is used as a raw material for obtaining cotton wool, batting, stuffing and absorbing materials, synthetic fibers, films, coatings, paper and other products. In recent years, it has been actively used in the production of strategic industrial raw materials – high-quality pulp.
In the last five years, Uzbekistan has been the world’s sixth largest producer, and the fifth exporter of cotton fiber. Every year, nearly 100 ginneries shall harvest more than 3.4 million tons of raw cotton, the processing of which results in about 1.1 million tons of fiber, more than 1.6 million tons of seeds, lint, and other products.